Feasibility study of catfish cultivation business using independent feed using maggot
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Published:
Jun 4, 2025
Keywords:
Black Soldier Fly, Catfish, Feasibility Study, Feed, Maggot
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Economy
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Abstract
This research was conducted with the aim of determining the financial feasibility of cultivating catfish using an artificial feed using maggot as source of protein. The indicators used in analyzing financial feasibility are Net Present Value (NPV), Internal Rate of Return (IRR), Break Event Point (BEP), Payback Period (PP), and Benefit Cost Ratio (B/C Ratio). The results of the business feasibility analysis on catfish cultivation are feasible because they meet the criteria that have been applied, namely the NPV with a value of IDR. 3,253,672, an IRR value of 94.58%, a net B/C value of 2.81, a payback period of 1 year and 1 month, and a BEP of 171 kg. The results of the analysis show that cultivating catfish using artificial feed is feasible in all indicators. Therefore, the recommended strategy to increase the advantages of using artificial feed with maggot as source of protein is to provide education and training to the public on how to make and produce artificial feed with maggot as protein source
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Prasetyo, B. D. . and Gandhy, A. . (2025) “Feasibility study of catfish cultivation business using independent feed using maggot”, Jurnal Mantik, 9(1), pp. 60-67. doi: 10.35335/mantik.v8i5.6321.
References
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Belghit, I., Liland, N. S., Gjesdal, P., Biancarosa, I., Menchetti, E., Li, Y., Waagbø, R., Krogdahl, Å., & Lock, E. J. (2019). Black Soldier Fly Larvae Meal Can Replace Fish Meal in Diets of Sea-Water Phase Atlantic Salmon (Salmo salar). Aquaculture, 503(December 2018), 609–619. https://doi.org/10.1016/j.aquaculture.2018.12.032
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Dewi, R., & Sylvia, N. (2022). Pengelolaan Sampah Organik Untuk Produksi Maggot Sebagai Upaya Menekan Biaya Pakan Pada Petani Budidaya Ikan Air Tawar. Jurnal Malikussaleh Mengabdi, 1(1), 11. https://doi.org/10.29103/jmm.v1i1.5800
Gandhy, A., & Sutanto, D. (2017). Analisis Finansial dan Sensitivitas Peternakan Ayam Broiler PT Bogor Eco Farming, Kabupaten Bogor. Optima, 1(1).
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Hardini, Sri, & Gandhy, A. (2021). Efficiency Of Feed Cost And Business Feasibility In Catfish Cultivation Using Black Soldier Larvae As Additional Feed. Journal of the Austrian Society of Agricultural Economics, 17(02), 303–312.
Herawati, V., Pinandoyo, P., Windarto, S., Hariyadi, P., Hutabarat, J., Darmanto, Y., Rismaningsih, N., Prayitno, S., & Radjasa, O. (2020). Maggot Meal (Hermetia illucens) Substitution on Fish Meal as Source of Animal Protein to Growth, Feed Utilization Efficiency, and Survival Rate of Milkfish (Chanos chanos). Hayati Journal Of Biosciences, 27(2), 155–165.
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Prajayati, V., Hasan, O., & Mulyono, M. (2020). Magot Flour Performance in Increases Formula Feed Efficiency and Growth of Nirwana Race Tilapia (Oreochromis sp.). Jurnal Perikanan Universitas Gadjah Mada, 22(1), 27–36.
Pratiwi, R., Hidayat, K., & Sumitro, S. (2020). Production Performance of Catfish (Clarias Gariepinus) Cultured With Added Probiotic Bacillus Sp On biofloc Technology. Journal Of Aquaculture And Fish Health, 9(3), 274–285. https://e-journal.unair.ac.id/JAFH/article/view/16280/11851
Purnamasari, D. K., Erwan, Syamsuhaidi, Sumiati, Wiryawan, I. K. G., Maslami, V., & Kurniyati. (2023). Kandungan Nutrisi Setiap Fase Siklus Black Soldier Fly (BSF) yang Dibudidaya Menggunakan Sampah Organik. Jurnal Ilmu Dan Teknologi Peternakan Indonesia (JITPI) Indonesian Journal of Animal Science and Technology), 9(2), 111–121. https://doi.org/10.29303/jitpi.v9i2.182
Saleh, J., Budi, S., & Salam, S. (2021). Pengembangan budidaya ikan nila.
Sugiyono. (2011). Metode Penelitian Kuantitatif, Kualitatif dan R & D. Bandung: CV Alfabeta.
Tugiyono, Febryano, I. G., Puja, Y., & Suharso. (2020). Utilization of Fish Waste as Fish Feed Material as an Alternative Effort to Reduce and Use Waste. Pakistan Journal of Biological Sciences, 23(5), 701–707. https://doi.org/10.3923/pjbs.2020.701.707
Vita, Y. (2017). Pengaruh Pemberian Jenis Pakan Yang Berbeda Terhadap Laju Pertumbuhan Benih Ikan Nila (Oreochiomis Niloticus) Dan Kualitas Air Di Akuarium Pemeliharaan. Journal of Chemical Information and Modeling, 42(2), 91–99.
Wardhani, L. K., Safrizal, M., & Chairi, A. (2011). Optimasi Komposisi Bahan Pakan pada Ikan Air Tawar Menggunakan Metode Multi-Objective Genetic Algorithm. Seminar Nasional Aplikasi Teknologi Informasi, 112–117.
Yan, R., & Zhang, Y. (2022). The Introduction of NPV and IRR. Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022), 648, 1472–1476. https://doi.org/10.2991/aebmr.k.220307.241
Apriyanto, R., Amreta, M. Y., & Asyi’ari, I. (2023). Budidaya Maggot BSF untuk Penguraian Sampah Organik dan Alternatif Pakan Lele. Jurnal SOLMA, 12(1), 99–104. https://doi.org/10.22236/solma.v12i1.11023
Barragan-Fonseca, K. B., Dicke, M., & van Loon, J. J. A. (2017). Nutritional value of the black soldier fly (Hermetia illucens L.) and its suitability as animal feed - a review. Journal of Insects as Food and Feed, 3(2), 105–120. https://doi.org/10.3920/JIFF2016.0055
Belghit, I., Liland, N. S., Gjesdal, P., Biancarosa, I., Menchetti, E., Li, Y., Waagbø, R., Krogdahl, Å., & Lock, E. J. (2019). Black Soldier Fly Larvae Meal Can Replace Fish Meal in Diets of Sea-Water Phase Atlantic Salmon (Salmo salar). Aquaculture, 503(December 2018), 609–619. https://doi.org/10.1016/j.aquaculture.2018.12.032
Dai, H., Li, N., Wang, Y., & Zhao, X. (2022). The Analysis of Three Main Investment Criteria: NPV IRR and Payback Period. Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022), 185–189.
Dewi, R., & Sylvia, N. (2022). Pengelolaan Sampah Organik Untuk Produksi Maggot Sebagai Upaya Menekan Biaya Pakan Pada Petani Budidaya Ikan Air Tawar. Jurnal Malikussaleh Mengabdi, 1(1), 11. https://doi.org/10.29103/jmm.v1i1.5800
Gandhy, A., & Sutanto, D. (2017). Analisis Finansial dan Sensitivitas Peternakan Ayam Broiler PT Bogor Eco Farming, Kabupaten Bogor. Optima, 1(1).
Hardini, S. Y. P. K., & Gandhy, A. (2021). Budidaya Lele Menggunakan Pakan Tambahan Maggot. Ahlimedia Press.
Hardini, S, & Gandhy, A. (2020). Analisis Harga Pokok Produksi Usaha Budidaya Larva Black Soldier Fly (Hermetia Illucens) Skala Rumah Tangga. Seminar Nasional Sistem Pertanian Terpadu Dalam Pemberdayaan Petani., 298–306.
Hardini, Sri, & Gandhy, A. (2021). Efficiency Of Feed Cost And Business Feasibility In Catfish Cultivation Using Black Soldier Larvae As Additional Feed. Journal of the Austrian Society of Agricultural Economics, 17(02), 303–312.
Herawati, V., Pinandoyo, P., Windarto, S., Hariyadi, P., Hutabarat, J., Darmanto, Y., Rismaningsih, N., Prayitno, S., & Radjasa, O. (2020). Maggot Meal (Hermetia illucens) Substitution on Fish Meal as Source of Animal Protein to Growth, Feed Utilization Efficiency, and Survival Rate of Milkfish (Chanos chanos). Hayati Journal Of Biosciences, 27(2), 155–165.
Huang, J., Tong, J., Wang, P., & Zheng, X. (2022). Application and Comparison of NPV and IRR Methods in the Company Investment Decision. Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022), 648, 71–78. https://doi.org/10.2991/aebmr.k.220307.012
Kim, J., Han, H. D., Lee, W. Y., Wakholi, C., Lee, J., Jeong, Y. B., Bae, J. H., & Cho, B. K. (2021). Economic analysis of the use of vcs2000 for pork carcass meat yield grading in Korea. Animals, 11(5), 1–16. https://doi.org/10.3390/ani11051297
Makinde and Olayinka John. (2015). Maggot Meal: A Sustainable Protein Source for Livestock Production-A Review. Advances in Life Science and Technology, 31, 8. www.iiste.org
Mayulu, H., Puteri, S. S. A., Christiyanto, M., & Rorimpandey, B. (2024). Financial Feasibility Analysis of the Beef Cattle Fattening Business. Jurnal Ilmu-Ilmu Peternakan, 34(1), 21–30. https://doi.org/10.21776/ub.jiip.2024.034.01.03
Morano, P., & Tajani, F. (2017). The break-even analysis applied to urban renewal investments: A model to evaluate the share of social housing financially sustainable for private investors. Habitat International, 59, 10–20.
Prajayati, V., Hasan, O., & Mulyono, M. (2020). Magot Flour Performance in Increases Formula Feed Efficiency and Growth of Nirwana Race Tilapia (Oreochromis sp.). Jurnal Perikanan Universitas Gadjah Mada, 22(1), 27–36.
Pratiwi, R., Hidayat, K., & Sumitro, S. (2020). Production Performance of Catfish (Clarias Gariepinus) Cultured With Added Probiotic Bacillus Sp On biofloc Technology. Journal Of Aquaculture And Fish Health, 9(3), 274–285. https://e-journal.unair.ac.id/JAFH/article/view/16280/11851
Purnamasari, D. K., Erwan, Syamsuhaidi, Sumiati, Wiryawan, I. K. G., Maslami, V., & Kurniyati. (2023). Kandungan Nutrisi Setiap Fase Siklus Black Soldier Fly (BSF) yang Dibudidaya Menggunakan Sampah Organik. Jurnal Ilmu Dan Teknologi Peternakan Indonesia (JITPI) Indonesian Journal of Animal Science and Technology), 9(2), 111–121. https://doi.org/10.29303/jitpi.v9i2.182
Saleh, J., Budi, S., & Salam, S. (2021). Pengembangan budidaya ikan nila.
Sugiyono. (2011). Metode Penelitian Kuantitatif, Kualitatif dan R & D. Bandung: CV Alfabeta.
Tugiyono, Febryano, I. G., Puja, Y., & Suharso. (2020). Utilization of Fish Waste as Fish Feed Material as an Alternative Effort to Reduce and Use Waste. Pakistan Journal of Biological Sciences, 23(5), 701–707. https://doi.org/10.3923/pjbs.2020.701.707
Vita, Y. (2017). Pengaruh Pemberian Jenis Pakan Yang Berbeda Terhadap Laju Pertumbuhan Benih Ikan Nila (Oreochiomis Niloticus) Dan Kualitas Air Di Akuarium Pemeliharaan. Journal of Chemical Information and Modeling, 42(2), 91–99.
Wardhani, L. K., Safrizal, M., & Chairi, A. (2011). Optimasi Komposisi Bahan Pakan pada Ikan Air Tawar Menggunakan Metode Multi-Objective Genetic Algorithm. Seminar Nasional Aplikasi Teknologi Informasi, 112–117.
Yan, R., & Zhang, Y. (2022). The Introduction of NPV and IRR. Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022), 648, 1472–1476. https://doi.org/10.2991/aebmr.k.220307.241
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